Customer Experience: Is There Room for Empathy?
- Date: July 07, 2022
- Author(s):
- Suzanne Sando
- Report Details: 15 pages, 3 graphics
- Research Topic(s):
- Fraud & Security
- Fraud Management
Foreword
This report, sponsored by Iris® Powered by Generali, explores the impacts of identity fraud on consumers and how significant the client experience is in customer retention and new growth. This report is derived from the 2022 Identity Fraud Study: The Virtual Battleground, published by Javelin Strategy & Research in March 2022. Javelin Strategy & Research maintains complete independence in its data collection, findings, and analysis.
Overview
U.S. consumers were hammered from all sides by the threat of identity fraud in 2021. Whether by account takeover, new accounts fraudulently opened in consumers’ names, or scamming innocent consumers out of their own money, 2021 was fraught with criminals taking direct aim at consumers’ identities. Consumers lost $52 billion to traditional identity fraud ($24 billion) and identity fraud scams ($28 billion) in 2021. No relief is in sight for consumers, at least not without the aid of organizations that can provide robust identity fraud detection, prevention, and resolution. Regardless of industry, consumers should have access to exceptional fraud resolution. But without a dedicated fraud department, customer service representatives tasked with handling a fraud-related case may not have the tools and expertise necessary for providing a quality customer experience. Organizations have ample opportunity to improve their offerings and provide a superior resolution experience—one that benefits both the consumer and the business.
Download Complimentary Whitepaper
Related content
Pig Butchering Scams: How Banks Can Stop the Slaughter
Pig butchering is a devastating, multilayered, drawn-out investment scam that leaves victims with nothing. By implementing robust customer education, employing effective fraud dete...
Customer Contact Centers: Heroes in Cybercrime Remediation, Fraud Prevention
Criminals increasingly use cyberattacks and scams to target consumers, and FI call centers are often relied upon for victim assistance. The key will be FI customer-oriented contact...
2024 Authentication and Identity-Proofing Vendor Solutions Scorecard
Identity-proofing, a fundamental need of financial services companies, is a space in considerable flux. Fintech companies that cut their teeth as e-commerce payments platforms are ...